THE LOCAL MARKET
As we enter the last weekend of the school holidays, REIWA is reporting that the spring selling season has started off strong with listings rising by 8.4 percent in September, “settling” at 3,952 properties at the end of the month (down from 4,005 we reported last week). While properties continue to sell quickly, listings remain 19 percent lower than this time last year (a significant improvement compared to recent months).
Perth’s median house price grew by 1.7 percent in September, with an impressive 21.5 percent growth this year, reaching $700,000.
As we’ve discussed in previous updates, buyers’ appetite for units is increasing due to rising house prices and the desire for well-located, lower maintenance properties. We are continuing to see unit prices accelerating with unit prices increasing by 2.2 percent in September and a total of 16.3 percent over the year to $465,000.
Houses and units both sold in a median of 10 days in September. Units, however, are now selling six days faster than the same time last year.
Population growth and limited housing supply are expected to continue driving upward pressure on prices as we move further into spring.
As the spring market unfolds, we expect more properties and more buyers to come onto and into the market.
Now is an excellent time to consider your next steps, whether you’re buying or selling.
If you’re curious about the new value of your property in the current market, or are thinking of selling, now or in the future, please reach out for a confidential discussion. We are always here to help you make informed decisions in relation to your particular circumstances.
It’s been another busy week at White House and we are thrilled to have secured contracts on FIVE properties this past week.
Louise Pope and Stefanie Dobro worked together to find perfect buyers for the landmark residence at 27 Malcolm Street, Fremantle. A wonderful local family are excited to have secured the opportunity to live in this iconic home. We are grateful to our sellers for the opportunity to work with and for them in the sale of their treasured home.
We received huge interest in the immaculately renovated and extended property at 3 Skinner Street, Fremantle, with Advisor & Negotiator Louse Pope negotiating multiple offers for one lucky couple who secured the property with a cash offer. We are thrilled for our buyers who had recently missed out on another property locally and grateful to our sellers for the opportunity to represent them.
Fremantle’s Number 1 agent, Connie Handcock, skilfully negotiated an offer to purchase the heritage home at 166 South Terrace, Fremantle. We are thrilled for both our buyers and sellers.
Advisor & Negotiator, Carlie Baker, successfully negotiated an offer to secure the wonderful home at 16 Keeling Way in seaside South Fremantle. Thank you to our sellers for entrusting us with the sale of your home.
THE RENTAL MARKET
The rental market remains tight, with 2,032 properties available for rent, down 2.5 per cent from the previous week. Although rental listings are 22 per cent higher than a year ago, they are 8.6 per cent lower than four weeks ago, indicating limited availability.
If you have been considering leasing your property or would like to know more about leasing your property, please get in touch with Monique Malarowski on 0418 228 524 monique@whitehouseproperty.com.au or Veda Spence on 0499 171 457 veda@whitehouseproperty.com.au.
And if you’re a prospective tenant we have THREE new properties available for lease;
BICTON
Situated at the back of a well-maintained complex just a brief walk from the bustling Melville plaza, this ground-floor dwelling at 6/59 Waddell Road boasts a convenient floor plan featuring two generously sized bedrooms and one bathroom. This property is available for lease from the 13th of November 2024 for $570 per week, with a 12 month lease preferred. Applications accepted through 2Apply.
HAMILTON HILL
Situated in an exclusive coastal pocket on the border of South Fremantle, North Coogee and Hamilton Hill, 47/4 Bellion Drive gives you easy access to the beach and a wonderful lifestyle. This 2-bedroom, 1-bathroom home offers a practical layout that’s perfect for comfortable, everyday living. This property is available for lease soon for $580 per week, with a 12 month lease preferred. Applications accepted through 2Apply.
SOUTH FREMANTLE
Nestled in the heart of South Fremantle, this charming 4-bedroom, 2-bathroom limestone home at 7 Charles Street is perfect for those seeking a mix of heritage charm and modern comfort! With its prime location just a short stroll from South Terrace and moments from the South Fremantle Dog Beach, this home offers both convenience and lifestyle in one of the area’s most sought-after pockets. This property is available for lease soon for $1,450 per week, with a preferred lease term of 12 months. Applications accepted through 2Apply.
